Point72 DIFC Ltd Buys New Holdings in MediaAlpha, Inc. (NYSE:MAX)

Point72 DIFC Ltd acquired a new stake in MediaAlpha, Inc. (NYSE:MAX) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,955 shares of the company’s stock, valued at approximately $65,000.

A number of other hedge funds have also added to or reduced their stakes in MAX. TimesSquare Capital Management LLC bought a new stake in shares of MediaAlpha in the 1st quarter worth approximately $22,181,000. Driehaus Capital Management LLC grew its stake in shares of MediaAlpha by 208.4% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,436,615 shares of the company’s stock worth $18,920,000 after buying an additional 970,840 shares in the last quarter. Divisadero Street Capital Management LP purchased a new stake in MediaAlpha during the second quarter valued at approximately $7,956,000. Emerald Advisers LLC lifted its position in MediaAlpha by 51,407.5% in the second quarter. Emerald Advisers LLC now owns 598,517 shares of the company’s stock worth $7,882,000 after buying an additional 597,355 shares during the last quarter. Finally, Clearline Capital LP grew its holdings in MediaAlpha by 1,255.3% during the 2nd quarter. Clearline Capital LP now owns 576,728 shares of the company’s stock valued at $7,596,000 after purchasing an additional 534,176 shares during the last quarter. Institutional investors and hedge funds own 64.39% of the company’s stock.

MediaAlpha Stock Up 1.5 %

MediaAlpha stock opened at $17.99 on Thursday. The firm has a market cap of $1.18 billion, a PE ratio of -26.46 and a beta of 1.22. MediaAlpha, Inc. has a 52-week low of $7.82 and a 52-week high of $25.78. The company’s 50 day moving average is $16.91 and its two-hundred day moving average is $17.34.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. The company had revenue of $178.27 million during the quarter, compared to analysts’ expectations of $151.40 million. During the same period last year, the firm earned ($0.32) earnings per share. MediaAlpha’s revenue was up 110.3% on a year-over-year basis. On average, equities research analysts anticipate that MediaAlpha, Inc. will post 0.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MAX. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $26.00 price objective (up previously from $25.00) on shares of MediaAlpha in a research note on Thursday, August 1st. TD Cowen lowered shares of MediaAlpha from a “buy” rating to a “hold” rating and dropped their price objective for the company from $19.00 to $13.00 in a report on Wednesday, June 26th. Finally, The Goldman Sachs Group started coverage on shares of MediaAlpha in a research note on Tuesday, August 20th. They set a “buy” rating and a $20.00 price objective for the company. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.29.

About MediaAlpha

MediaAlpha, Inc, through its subsidiaries, operates an insurance customer acquisition platform in the United States. It optimizes customer acquisition in various verticals of property and casualty insurance, health insurance, and life insurance. The company was founded in 2014 and is headquartered in Los Angeles, California.